On 9 January 2019, Hong Kong’s Department of Justice and the Ministry of Justice of Japan signed a Memorandum of Cooperation (MoC) to “strengthen collaboration on international arbitration and mediation“. The MoC, a copy of which is available here, provides a general administrative framework for cooperation between Japan and Hong Kong in relation to international arbitration and mediation.
The Japan Commercial Arbitration Association (JCAA) has issued an announcement that it is (i) amending its two current sets of arbitration rules and (ii) introducing a revolutionary set of rules designed to provide efficient and cheap civil-law style arbitration.
In its introduction to an initial call for public comments on the drafts, the JCAA made the frank admission that it: “has yet to play a significant role in the resolution of international disputes.” The clear motivation for these new rules is to change this by offering a unique arbitration model that is attractive to a wide range of businesses. Accordingly, the new sets of rules (the key features of which are explored below) seem to create a three tiered-system:
- The amended Administrative Rules for UNCITRAL Arbitration (Administrative Rules) for the most complex and high value international disputes
- The amended Commercial Arbitration Rules (Commercial Rules) – effectively the JCAA’s main set of arbitral rules – where cost efficiency is a greater priority.
- The newly enacted Interactive Arbitration Rules (Interactive Rules) where cost efficiency is paramount.
The new sets of rules will come into force on 1 January 2019.
On 17 July 2018, the EU-Japan Economic Partnership Agreement (EPA) was formally signed during the EU-Japan summit in Tokyo. The EPA – the largest free trade agreement ever negotiated by the EU – has been years in the making and took significant time and effort to get to this stage. You can read more about the steps to date in our earlier post here.
The EPA aims to remove trade barriers between the EU and Japan, making it easier for firms to sell goods and services between the two economies. It will create the world’s largest open trade zone, covering nearly a third of global GDP, almost 40 percent of world trade and more than 600 million people.
The partnership also goes beyond trade, with wider social and political implications. Given its scope of coverage, the EPA may encourage the development of global trade rules consistent with EU and Japanese standards. The EPA also sends a powerful signal that two of the world’s largest economies explicitly reject trade protectionism. Continue reading
Join us for a panel discussion on the dispute resolution system in the Trans-Pacific Partnership (TPP), presented by experts in international arbitration, as well as members of TPP government negotiating teams from Peru and Mexico. They will discuss the controversies arising out of the TPP's adoption of investor state arbitration.
Date: Thursday, January 7, 2016
Time: Registration will begin at 8:30am. Breakfast will be served. The panel discussion will begin at 9am.
Venue: Yale Club of New York, 50 Vanderbilt Avenue, New York, NY 10017. Please click here to view map.
For more information and the list of speakers, please see below.